2005 - JAMB Economics Past Questions and Answers - page 5
41
The factor responsible for the current inflationary pressures in Nigeria is the
A
exchange rate depreciation
B
increase in exports
C
low per capital income
D
budget surplus
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42
If government increases in its expenditure on public works, the desired effect is
A
a reduction in the use of capital equipment
B
an increase in the level of emploment
C
an increase in the level of inflation
D
an increase in the use of capital equipment
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43
An institution that regulates trade relations among members is the
A
ADB
B
OPEC
C
EU
D
IMF
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44
A
5kg
B
6kg
C
3kg
D
4kg
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45
A
7000 units
B
16000 units
C
9000 units
D
8000 units
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46
A
N54
B
N51
C
N56
D
N59
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47
A
16000 units
B
9000 units
C
8000 units
D
7000 units
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48
A profit maximizing monopolist should produce within the range where his demand is
A
Inelastic
B
Elastic
C
Infinitely elastic
D
Unitary elastic
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49
The savings deposit in a commercial bank is called
A
Capital
B
Fund
C
Near
D
Money
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50
(\begin{array}{c|c}
\text{Output(kg)} & 240 & 450 & 580 & 630 \
\hline
\text{MR(N)} & 75 & 48 & -40 & -22 \
\hline
\text{MC(N)} & 41& 48 & 77 & 20 \
\end{array})
Given the table above, what is the firm's short - run profit maximizing output?
A
450kg
B
630kg
C
240kg
D
580kg
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